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                    [ArticleID] => 290274
                    [Title] => Acesite Hotel incurs higher losses in H1
                    [Summary] => The Gatchalian-owned Acesite (Phils.) Hotel Corp. incurred higher losses in the first half of this year to P81.12 million, from the P78.43-million loss recorded  in the previous year-period.


Acesite owns Manila Pavillion, formerly Holiday Inn Manila. 


Gross revenues, however, rose six percent to P304.08 million from P286.57 million due to the increase in rooms and food and beverage revenues.  Operating income slightly increased to P111.44  million from P110.26 million. 


                    [DatePublished] => 2005-08-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 255327
                    [Title] => Gatchalian group takes over Mla Pavilion
                    [Summary] => Nominees of the Gatchalian-owned Waterfront Philippines Inc. (WPI) finally made it to the board of directors of publicly-listed Acesite (Phils.) Hotel Corp. after the latter held its annual stockholders meeting yesterday to comply with a Securities and Exchange Commission (SEC) directive.


                    [DatePublished] => 2004-06-26 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
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                    [ArticleID] => 254999
                    [Title] => Manila court bars Acesite Hotel from holding stockholders meet
                    [Summary] => Acesite (Phils.) Hotel Corp. failed to hold its annual stockholders meeting yesterday as the Manila Regional Trial Court ruled that the person who scheduled the meeting was not authorized to do so.


Judge Artemio Tipon of the Manila RTC said the annual meeting called by lawyer Gaudencio Palafox  should not take place since  the latter has no authority to call a stockholders meeting.


Under the Corporation Code, only the corporate secretary and the Securities and Exchange Commission can compel a corporation to hold a stockholders meeting.


                    [DatePublished] => 2004-06-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 196095
                    [Title] => Acesite group opposes sale of Manila Pavilion to Waterfront
                    [Summary] => The Acesite group, the controlling owners of Manila Pavilion Hotel, has contested the sale of its 75-percent interest in the hotel to Waterfront Philippines Inc. (WPI), arguing they were not informed beforehand of the deal by Equitable PCI Bank. 


Acesite officials said they have filed a civil case with the Makati Regional Trial Court yesterday to protest the sale of the shares, which were pledged to EBC by virtue of a share mortgage dated Feb. 25, 1993. 


                    [DatePublished] => 2003-02-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096615
                    [AuthorName] =>  Christina Mendez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 194213
                    [Title] => HK firm gains control of Acesite Phils Hotel Corp.
                    [Summary] => The Hong Kong-listed leisure firm Sino-i.com has gained majority control of the locally-listed hotel operator Acesite Philippines Hotel Corp., owner of the Holiday Inn Manila Pavilion along UN Avenue in Ermita, Manila.


Acesite executive vice president Francis Lam told the Philippine Stock Exchange that the deal was completed last Jan. 30, wherein Sino-i.com purchased 100 percent of the issued capital of South Port Development Ltd. for HK$190 million (about P1.5 billion).


                    [DatePublished] => 2003-02-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [5] => Array
                (
                    [ArticleID] => 98004
                    [Title] => Holiday Inn Manila has new foreign owner
                    [Summary] => From one foreign owner to another, a controlling block of listed stock Acesite (Phils.) Hotel Corp., which owns Holiday Inn Manila, has been sold for about P1.66 billion, documents furnished the Philippine Stock Exchange show.


Acesite president Francis Lam said South Port Development Ltd., a British Virgin Islands-registered firm which has experience in running leisure facilities in mainland China and Australia, has acquired in full Acesite Ltd., the parent firm of Acesite Phils. and likewise incorporated in the British Virgin Islands.


                    [DatePublished] => 2000-11-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096615
                    [AuthorName] =>  Christina Mendez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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)

ACESITE LTD

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                    [ArticleID] => 290274
                    [Title] => Acesite Hotel incurs higher losses in H1
                    [Summary] => The Gatchalian-owned Acesite (Phils.) Hotel Corp. incurred higher losses in the first half of this year to P81.12 million, from the P78.43-million loss recorded  in the previous year-period.


Acesite owns Manila Pavillion, formerly Holiday Inn Manila. 


Gross revenues, however, rose six percent to P304.08 million from P286.57 million due to the increase in rooms and food and beverage revenues.  Operating income slightly increased to P111.44  million from P110.26 million. 


                    [DatePublished] => 2005-08-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 255327
                    [Title] => Gatchalian group takes over Mla Pavilion
                    [Summary] => Nominees of the Gatchalian-owned Waterfront Philippines Inc. (WPI) finally made it to the board of directors of publicly-listed Acesite (Phils.) Hotel Corp. after the latter held its annual stockholders meeting yesterday to comply with a Securities and Exchange Commission (SEC) directive.


                    [DatePublished] => 2004-06-26 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 254999
                    [Title] => Manila court bars Acesite Hotel from holding stockholders meet
                    [Summary] => Acesite (Phils.) Hotel Corp. failed to hold its annual stockholders meeting yesterday as the Manila Regional Trial Court ruled that the person who scheduled the meeting was not authorized to do so.


Judge Artemio Tipon of the Manila RTC said the annual meeting called by lawyer Gaudencio Palafox  should not take place since  the latter has no authority to call a stockholders meeting.


Under the Corporation Code, only the corporate secretary and the Securities and Exchange Commission can compel a corporation to hold a stockholders meeting.


                    [DatePublished] => 2004-06-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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                    [ArticleID] => 196095
                    [Title] => Acesite group opposes sale of Manila Pavilion to Waterfront
                    [Summary] => The Acesite group, the controlling owners of Manila Pavilion Hotel, has contested the sale of its 75-percent interest in the hotel to Waterfront Philippines Inc. (WPI), arguing they were not informed beforehand of the deal by Equitable PCI Bank. 


Acesite officials said they have filed a civil case with the Makati Regional Trial Court yesterday to protest the sale of the shares, which were pledged to EBC by virtue of a share mortgage dated Feb. 25, 1993. 


                    [DatePublished] => 2003-02-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096615
                    [AuthorName] =>  Christina Mendez
                    [SectionName] => Business
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                    [ArticleID] => 194213
                    [Title] => HK firm gains control of Acesite Phils Hotel Corp.
                    [Summary] => The Hong Kong-listed leisure firm Sino-i.com has gained majority control of the locally-listed hotel operator Acesite Philippines Hotel Corp., owner of the Holiday Inn Manila Pavilion along UN Avenue in Ermita, Manila.


Acesite executive vice president Francis Lam told the Philippine Stock Exchange that the deal was completed last Jan. 30, wherein Sino-i.com purchased 100 percent of the issued capital of South Port Development Ltd. for HK$190 million (about P1.5 billion).


                    [DatePublished] => 2003-02-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                (
                    [ArticleID] => 98004
                    [Title] => Holiday Inn Manila has new foreign owner
                    [Summary] => From one foreign owner to another, a controlling block of listed stock Acesite (Phils.) Hotel Corp., which owns Holiday Inn Manila, has been sold for about P1.66 billion, documents furnished the Philippine Stock Exchange show.


Acesite president Francis Lam said South Port Development Ltd., a British Virgin Islands-registered firm which has experience in running leisure facilities in mainland China and Australia, has acquired in full Acesite Ltd., the parent firm of Acesite Phils. and likewise incorporated in the British Virgin Islands.


                    [DatePublished] => 2000-11-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096615
                    [AuthorName] =>  Christina Mendez
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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)

abtest

Acesite Hotel incurs higher losses in H1

By Zinnia B. Dela Peña | August 7, 2005 - 12:00am

The Gatchalian-owned Acesite (Phils.) Hotel Corp. incurred higher losses in the first half of this year to P81.12 million, from the P78.43-million loss recorded in the previous year-period. Acesite owns Manila...

Business

Gatchalian group takes over Mla Pavilion

By Zinnia B. Dela Peña | June 26, 2004 - 12:00am

Nominees of the Gatchalian-owned Waterfront Philippines Inc. (WPI) finally made it to the board of directors of publicly-listed Acesite (Phils.) Hotel Corp. after the latter held its annual stockholders meeting yesterday...

Business

Manila court bars Acesite Hotel from holding stockholders meet

By Zinnia B. Dela Peña | June 23, 2004 - 12:00am

Acesite (Phils.) Hotel Corp. failed to hold its annual stockholders meeting yesterday as the Manila Regional Trial Court ruled that the person who scheduled the meeting was not authorized to do so. Judge Artemio...

Business

Acesite group opposes sale of Manila Pavilion to Waterfront

By Christina Mendez | February 20, 2003 - 12:00am

The Acesite group, the controlling owners of Manila Pavilion Hotel, has contested the sale of its 75-percent interest in the hotel to Waterfront Philippines Inc. (WPI), arguing they were not informed beforehand of...

Business

HK firm gains control of Acesite Phils Hotel Corp.

February 5, 2003 - 12:00am

The Hong Kong-listed leisure firm Sino-i.com has gained majority control of the locally-listed hotel operator Acesite Philippines Hotel Corp., owner of the Holiday Inn Manila Pavilion along UN Avenue in Ermita, Manila. Acesite...

Business

Holiday Inn Manila has new foreign owner

By Christina Mendez | November 22, 2000 - 12:00am

From one foreign owner to another, a controlling block of listed stock Acesite (Phils.) Hotel Corp., which owns Holiday Inn Manila, has been sold for about P1.66 billion, documents furnished the Philippine Stock...

Business